The notes to financial statements on pages 8 to 27 form an integral part of these financial statements.

Transcription

1 Balance Sheets As at 31 December 2010 and 2009 Assets Cash 307, ,378 Interbank and money market items 4 Domestic items - interest bearing 9,351,751,028 10,319,820,368 Domestic items - non interest bearing 56,828,296 10,292,722 9,408,579,324 10,330,113,090 Foreign items - interest bearing 50,504,888 9,304,728 Foreign items - non interest bearing 21,444,903 4,664,404 71,949,791 13,969,132 Total interbank and money market items 9,480,529,115 10,344,082,222 Investment in securities 5, 23 Short-term investment in securities, net 11,018,603,557 12,519,838,435 Long-term investment in securities, net 4,379,436,373 5,337,566,747 Investment in securities, net 15,398,039,930 17,857,405,182 Loans and accrued interest receivables 6 Loans 1,930,733,454 2,595,394,714 Accrued interest receivables 10,099,278 11,806,955 Total loans and accrued interest receivables 1,940,832,732 2,607,201,669 Less Allowance for doubtful accounts 7 (448,821,576) (629,514,665) Less Revaluation allowance for debt restructuring - (25,557,509) Loans and accrued interest receivables, net 1,492,011,156 1,952,129,495 Customers liabilities under acceptances 6,703,340 6,449,512 Equipments, net 8 16,677,929 14,397,037 Derivative financial instruments assets 29,324,355,921 21,106,310,777 Account receivables for investments 2,596,886,576 - Other assets 9, ,436, ,677,338 Total assets 58,428,947,898 51,400,773,941 2

2 Balance Sheets (Cont d) As at 31 December 2010 and 2009 Liabilities and Head Office s equity and balances with other branches under the same entity Liabilities Deposits 10 Thai Baht deposits 3,753,961,790 2,880,154,067 Foreign currency deposits 63,597,910 96,321,369 Total deposits 3,817,559,700 2,976,475,436 Interbank and money market items 11 Domestic items - interest bearing 1,234,412,418 1,002,823,570 Domestic items - non interest bearing 50,000 50,000 Total interbank and money market items 1,234,462,418 1,002,873,570 Demand liabilities 733, ,247 Borrowing 12 3,752,955,998 5,028,988,307 Bank s liabilities under acceptances 6,703,340 6,449,512 Derivative financial instruments liabilities 30,464,770,737 20,419,819,925 Accounts payable for investments 499,664,005 - Other liabilities ,532, ,496,269 Total liabilities 40,336,381,848 29,939,033,266 Head Office s equity and balances with other branches under the same entity Fund remitted into Thailand for maintaining assets 14 under the law 5,899,633,250 5,899,633,250 Translation adjustment (582,990,250) (229,070,750) 5,316,643,000 5,670,562,500 Net balance of inter-office accounts with Head Office and other branches under the same entity 12,080,594,692 15,805,663,451 Unrealised gain on change in fair value of investment in securities 178,932, ,722,087 Unappropriated earnings (deficit) 516,395,402 (197,207,363) Total Head Office s equity and balances with other branches under the same entity 18,092,566,050 21,461,740,675 Total liabilities and Head Office s equity and balances with other branches under the same entity 58,428,947,898 51,400,773,941 Off balance sheet items -contingencies 15 Letters of credit 3,130,989, ,481,136 Guarantees on loans 292,250, ,400,000 Liabilities under unmatured bills 283,507,057 1,709,992 Other guarantees 12,233,588,448 10,074,618,613 3

3 Statement of Income Interest and dividend income Loans 107,591, ,150,400 Interbank and money market items 96,242, ,963,767 Government and state enterprise securities 250,572, ,059,977 Total interest and dividend income 454,406, ,174,144 Interest expenses Deposits 7,168,267 42,659,113 Interbank and money market items 177,789, ,558,986 Borrowings 241,464, ,640,305 Total interest expense 426,421, ,858,404 Net interest and dividend income 27,985,076 24,315,740 Bad debts and doubtful accounts 7 (187,880,317) 351,298,513 Loss from restructuring 17-25,820,862 Net interest and dividend income after bad debts and doubtful accounts 215,865,393 (352,803,635) Non-interest income Net gain on investments 159,891,616 23,543,811 Fees and services income 33,887,474 41,559,798 Net gain on foreign exchange and derivatives 1,033,391, ,453,954 Other income 9,028,749 32,743,271 Total non-interest income 1,236,199, ,300,834 Non-interest expenses Personnel expenses 214,926, ,768,600 Premises and equipment expenses 40,132,778 43,428,352 Taxes and duties 10,850,337 10,197,819 Fees and services expenses 84,547,983 80,878,064 Expenses shared from Head Office 32,501,811 22,304,553 Cost sharing from financial instruments, net 169,443,532 68,091,460 Other expenses 89,268,666 25,160,778 Total non-interest expenses 641,671, ,829,626 Profit (Loss) before income tax 810,393,122 (76,332,427) Income tax 19 96,790, ,198,595 Net profit (loss) for the years 713,602,765 (358,531,022) 4

4 Statements of Changes in Head Office s equity and balances with other branches under the same entity Net balance of inter-office accounts Unrealised Fund remitted with Head Office gain on change into Thailand for and balances with in fair value of Unappropriated maintaining assets other branches under investment retained earning under the law the same entity in securities (deficit) Total Baht Baht Baht Baht Baht As at 1 January ,899,633,250 15,805,663, ,722,087 (197,207,363) 21,690,811,425 Net increase (decreased) during the year - (3,725,068,759) (3,789,131) - (3,728,857,890) Translation adjustment At beginning of year (229,070,750) (229,070,750) Increase during the year (353,919,500) (353,919,500) At end of year (582,990,250) (582,990,250) Net profit for the year ,602, ,602,765 As at 31 December ,316,643,000 12,080,594, ,932, ,395,402 18,092,566,050 As at 1 January ,899,633,250 2,953,140, ,900, ,323,659 9,419,998,733 Net increase (decreased) during the year - 12,852,522,626 (223,178,912) - 12,629,343,714 Translation adjustment At beginning of year (57,773,250) (57,773,250) Increase during the year (171,297,500) (171,297,500) At end of year (229,070,750) (229,070,750) Net loss for the year (358,531,022) (358,531,022) As at 31 December ,670,562,500 15,805,663, ,722,087 (197,207,363) 21,461,740,675 5

5 Statements of Cash Flows Cash flows from operating activities Gain (loss) before tax for the years 810,393,122 (76,332,427) Adjustment to reconcile income (loss) before tax to cash received (paid) from operating activities Depreciation 8 6,265,201 7,493,268 Bad debts and doubtful accounts (reversal) 7 (187,880,317) 351,298,513 Revaluation allowance for debt restructuring (reversal) (25,557,509) 25,557,509 Premium and discount on debt securities 26,867,853 30,190,786 (Gain) loss on sales of investment in securities (103,955,727) 23,297,624 (Gain) loss on disposal of equipment 102,240 (94,845) Net unrealised gain on foreign exchange rate (355,901,597) (186,125,955) Net unrealised loss on revaluation of derivative financial instruments 1,826,905,668 3,527,109,066 Interest expense 426,421, ,858,404 Interest and dividend income (428,849,147) (494,174,144) Profit from operating activities before changes in operating assets and liabilities 1,994,811,367 3,678,077,799 (Increase) decrease in operating assets: Interbank and money market items 933,969,680 (8,002,641,440) Trading securities 2,753,628,318 (7,197,286,305) Loans 663,030, ,224,618 Investment receivables (2,596,886,576) Other assets 4,343,999 (1,338,470) Increase (decrease) in operating liabilities: Deposits 841,084,264 (2,538,810,646) Interbank and money market items 216,026, ,708,663 Borrowings (1,276,032,309) 718,893,317 Demand liabilities (197,160) (2,637,683) Investment payable 449,664,005 - Other liabilities (100,495,368) (179,812,295) Net balance of inter-office accounts with Head Office and other branches under the same entity (3,550,887,890) 12,724,492,026 Cash provided by operating before received (paid) interest and income tax 332,058, ,869,584 Interest received 431,787, ,520,259 Interest paid (318,094,656) (518,096,827) Income tax paid (286,094,731) (80,781,281) Net cash provided by operating activities 159,657, ,511,735 6

6 Statements of Cash Flows (Cont d) Note Baht Baht Cash flows from investing activities Purchases of investment in securities (9,168,000,000) (6,067,446,774) Proceeds from sales of investment in securities 8,947,035,677 5,723,578,238 Purchases of equipments 8 (8,738,334) (4,363,935) Proceeds from disposals of equipments 90,000 94,850 Net cash used in investing activities (229,612,657) (348,137,621) Cash flows from financing activities - - Net decrease in cash and cash equivalents (69,955,397) (153,625,886) Cash and cash equivalents at beginning of years 149,679, ,305,865 Cash and cash equivalents at end of years 79,724, ,679,979 Cash and cash equivalents: Cash 307, ,378 Interbank and money market items - assets 72,955,923 13,991,132 Interbank and money market items - liabilities (31,436,418) (15,873,570) Net balance of inter-office accounts with Head Office and other branches under the same entity - assets 96,651, ,395,857 Net balance of inter-office accounts with Head Office and other branches under the same entity - liabilities (58,754,327) (3,155,818) Total cash and cash equivalents 79,724, ,679,979 7